Sunday, 21 September 2014
Last updated 2 days ago
Jul 15 2008 | 10:08am ET
The equities markets salted The Children’s Investment Fund’s wounds in June, sending the London activist hedge fund to its worth monthly performance ever.
Already reeling from its highly-publicized defeat in its battle with Japanese electric utility Electric Power Development Co., better known as J-Power, plummeting equities markets sent TCI into a 12.5% tailspin last month, the Financial Times reports. The decline erases some US$1 billion in assets and leaves TCI—which has enjoyed average annual returns in excess of 40% in its five years of existence—in the red for the first half.
TCI, which has a highly-concentrated portfolio and uses little hedging, was battered by falling equities markets in June. One investor told the FT that some of the stock picks the fund made during the month have not worked out.
“Unfortunately some things that seemed cheap got even cheaper,” he said.
Prior to last month, TCI’s worst month was May 2006.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.